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The North America AI chip market accounted for US$ 2.50 Bn in 2018 and is expected to grow at a CAGR of 32.0% over the forecast period 2019-2027, to account for US$ 30.62 Bn in 2027NEW YORK, Nov. 12, 2019 /PRNewswire/ -- The North America AI chip market accounted for US$ 2.50 Bn in 2018 and is expected to grow at a CAGR of 32.0% over the forecast period 2019–2027, to account for US$ 30.62 Bn in 2027. The increase in data generation due to the increasing proliferation of digital services is the key driver that is driving the growth of the AI chip market. Moreover, the adoption of cloud-based AI solutions is expected to boost the AI chip market growth in the forecast period. Artificial intelligence and its applications such as machine learning and deep learning have been growing tremendously over the last few years. AI is being utilized extensively in numerous areas ranging from cloud computing applications to digital assistants and self-driving/autonomous vehicles. With ever increasing use cases of AI and the evolving market landscape, the advancements in present chips have become a necessity. AI is majorly used in data center training market where NVIDIA is a market leader. However, the inference on edge and data center are the fast-growing segments in AI chip market, and many new start-ups are coming up to tap this market. The innovative technologies and solutions offered by these start-ups are going to intensify the competition in the AI chip market and challenge the market leaders like NVIDIA and Intel. The funding scenario is looking good for these start-ups majorly due to the huge interest of global industries in artificial intelligence and its capabilities to transform business processes. Download the full report: https://www.reportbuyer.com/product/5794730/?utm_source=PRN The AI chip market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the AI chip market further. For instance, the North American countries are developing various policies and outlining best practices to implement artificial intelligence for promoting innovation in various industry sectorsFurther, the political agendas for North American countries are aligned with the development of Machine Learning (ML) and Artificial Intelligence (AI). Artificial intelligence technologies such as self-adapting machine learning, deep learning, or Natural language processing are expected to transform the way businesses work.However, there are many challenges related to data privacy and other concerns that are in the way of mass penetration of AI in various industries. Governments of various North American countries are working on drafting a robust and comprehensive set of regulations and policies for the holistic development of artificial intelligence in this region. In this sector, a high amount of sensitive data is generated and exchanged every day.There are a growing volume and creation of endpoints and mobile devices in banks, credit card companies, and credit reporting institutions. SOURCE ReportBuyer |